Progressive Financial News

A measure to block discharges of radioactive water into the Hudson River as part of the Indian Point nuclear plant’s decommissioning has been signed into law by New York Gov. Kathy Hochul

Opponents of a sweeping Texas bill blocking local governments from enforcing their laws say it would deprive workers of water breaks during a historic heat wave, among other dangers

Japanese Prime Minister Fumio Kishida says he will visit the tsunami-wrecked Fukushima nuclear plant on Sunday before setting a release date for its treated radioactive wastewater, as his government continues working to promote understanding over the c...

Key computer systems at hospitals and clinics in several states have yet to be turned back on more than two weeks after a cyberattack forced some emergency room shutdowns and ambulance diversions

Nirmala Sitharaman on Saturday chaired a high-level review meeting on the growth of India's first International Financial Services Centre (IFSC) at GIFT City, Gandhinagar. Sitharaman stressed the importance of recognizing and supporting the identified pathways to elevate GIFT City as a premier global financial hub. She echoed the vision of Prime Minister Narendra Modi, stating that GIFT City should not only be an international center but also a global leader in solving complex financial challenges, especially amid current global economic headwinds.

By Chris Helgren

‘Suicide attack if necessary’; China sends strong signals to Taiwan, says ready for war ‘at any second’: Report "Since 0900 (UTC 8) today (Aug. 19), the R.O.C. Armed Forces detected 42 PLA aircraft (including KJ-500, Y-9, J-10, J-11, J-16, SU-30 etc.), 26 of which crossed the median line of the Taiwan Strait.

₹870 crore to cover the lenders/banking facilities to its two UK-based subsidiaries- Optare Plc. UK and Switch Mobility Limited, UK. Ashok Leyland cleared that the promoters, promoter group, or group companies have no interest in this transaction which is conducted only for the purpose of covering the lenders/banking facilities.

Narendra Modi on Friday highlighted India's significant digital progress and its potential to serve as a testing ground for innovative solutions with global applicability while virtually addressing the G20 Digital Economy Ministers’ Meet. "With such diversity, India is an ideal lab for solutions.

Narendra Modi has cited two research findings to assert that tax compliance and individual incomes have risen manifold in the last nine years. Uttar Pradesh has emerged as one of the top performers while the North-East states of Manipur, Mizoram and Nagaland have shown a 20 percent increase in filing of income tax returns. In a post on social media site Linked-In, Prime Minister Modi referred to the research pieces on the Indian economy by SBI Research and by senior journalist Anil Padmanabhan.

Microsoft has been progressively substituting reporters with AI. The AI-generated material on the platform has been identified to have imperfections.

Financial inclusion is a critical driver of economic development, and embedded finance as-a-service has emerged as a powerful tool to deepen financial inclusion in India's new age economy with over USD 5bn in market size. The growing and prominent role of fintech in leveraging embedded finance to unlock new value chains, empower underserved populations, and drive economic growth is undisputed. However, despite significant progress, India still faces challenges in achieving comprehensive financial inclusion.

Bitdeer Technologies Group (NASDAQ: BTDR), a leading technology company in the cryptocurrency mining community headquartered in Singapore, announced its unaudited mining and operations updates for July 2023 on August 7, 2023.

Financial services secretary Vivek Joshi held a meeting with the heads of state-run banks on Friday to review their preparedness for the upcoming PM Vishwakarma Scheme and the progress made under PM SVANidhi. In a statement, the finance ministry noted that officials from the MSME ministry also attended the meeting.

industrial activity may have recovered from pre-pandemic levels, but experts indicate that a broad-based recovery remains elusive. An ET analysis found that 12 of the 22 manufacturing firms captured in the index of industrial production were still operating at lower levels than during the pre-pandemic period. “It is becoming progressively clear that notwithstanding some high volatile growth numbers, it is not broad-based. Deficiency in spending is manifest here,” said Madan Sabnavis, chief economist, Bank of Baroda. While the overall industrial activity was up 9.6% in Q1 FY24 compared with Q1FY20, computer electronic and optical products was down 33.1%, whereas wearing apparel was down 34.5% during this period. “The weakness in electronic good productions is despite the fact that India’s electronic goods exports has shown strong growth of 47% YoY in Q1FY24 and 51% in FY23. On the import front, electronic goods has seen a more moderate growth at 4.9% YoY in FY23 and 6.3% growth in Q1FY24. As a result, net electronic goods imports has reduced in Q1FY24,” said Gaura Sengupta, India Economist, IDFC First Bank. Economists note that government capex also has much to do with diverse performance. “While infrastructure and construction-linked sectors have been outperforming, the consumer-linked segments still need to catch up,” said Upasna Bhardwaj, chief economist, Kotak Mahindra Bank.

Broadway performer Chris Peluso, known for his roles in musicals like «Mamma Mia!» and «Lestat,» has died at 40. According to Playbill, Peluso's family confirmed his passing on August 15, a year after he paused his theater career to receive treatment for schizoaffective disorder. Peluso's alma mater, the University of Michigan, shared a tribute on their musical theater department's Instagram, expressing their sorrow and extending condolences to his family.

William Lai returned on Friday from a sensitive visit to the United States, thanking Taiwanese people supporting a trip he said showed the island's «self confidence» venturing into the international community. «Because of everyone's hard work, Taiwan's power is stronger and stronger, and it showed the international community that Taiwan is a force for good, that the international community really pays great attention to Taiwan,» he said.

India and China held talks on resolving the two remaining border flashpoints in eastern Ladakh, days after positive and constructive discussions at the corps commander level. The talks on Friday were held at the Major General level at Daulat Beg Oldie (DBO) and Chushul. DBO is located near the Depsang plains where India and China have been in a border standoff since 2020 with PLA troops blocking access to border patrolling points.

Narendra Modi on Friday said India is making significant strides towards achieving equitable and collective prosperity, as evidenced by a broader tax base and a rise in the average income of people filing tax returns. Citing two separate analysis, Modi said in a short article posted on social media that research showed that not only have incomes risen but so has compliance, calling it “a manifestation of the spirit of trust which the people have in our government." Citing research by SBI, the PM said the weighted mean income has made “a commendable leap" in nine years, from Rs4.4 lakh in assessment year (AY) 2014 to Rs13 lakh in FY23. In FY23, tax payers filed returns for incomes earned in the previous financial year.

Representatives from the Indian and Chinese army met for Major General-level talks at DBO and Chushul on Friday to resolve the ongoing stand-off in eastern Ladakh. The development comes two days after the 19th round of India-China Corps Commander level meeting was concluded at the Chushul-Moldo border. News agency ANI quoted Defence sources to add that the Indian side was represented at the two locations by Major General PK Mishra and Major General Hariharan.

₹800 crore at Malkapur in Buldhana district, Maharashtra. The inauguration of the four-lane project will boost the progress and prosperity of the people of Buldhana, the ministry of road transport & highways said.